JAKARTA - PT Garudafood Putra Putri Jaya Tbk (GOOD), a well-known snack and beverage producer in Indonesia, managed to record a double-digit revenue increase of 19.4% year-on-year (yoy). This increase allowed GOOD's net profit to increase by 5.9% yoy from IDR 492.6 billion in 2021 to IDR 521.7 billion.

In 2022, GOOD posted net sales of up to IDR 10.51 trillion, a significant increase from IDR 8.8 trillion in 2021. Sales were still dominated by domestic sales, which generated IDR 10.01 trillion or 96.1% of total revenue. Meanwhile, GOOD's export performance, which focused on ASEAN countries and China, reached IDR 412 billion or 3.9%.

With this increase in revenue and net profit, the allocation for capital expenditure (capex) in 2023 will reach IDR 400 billion. "This capex will be used to expand production and warehouse capacity," added Dian Astriani, GOOD's Head of Corporate Communication, when met at GOOD's Annual Public Expose today (14/4).

Based on the presentation by Paulus Tedjosutikno, Director of Garudafood, the company is now preparing to launch a new product whose details cannot be disclosed to the public. "For 2023, we are optimistic that we will achieve growth above the industry average," continued Astriani.

Hormel Foods International Corporation is known to have increased its shareholding in GOOD by 364.48 million shares on April 12, 2023. "This initiative is a continuation of our collaboration with Hormel after establishing a joint venture for the distribution of Skippy Peanut Butter products," said Tedjosutikno. According to him, this collaboration will help increase the distribution of Hormel Foods products in Indonesia and Garudafood overseas. (ZH/LM)